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MOA trust posts strong returns; MLNP stipulation near close and vice chair resigns
Summary
Trust chair Slifka reported the MOA Trust was valued at $487 million as of Nov. 30, with year-to-date returns of 12.58% and a $16.577 million dividend paid to the municipality; Callan will be the new consultant beginning Jan. 1 and vice chair Jeff Sins has resigned but will serve until a replacement is named. OMB reported the MLNP stipulation of $15 million toward long-term substance-misuse treatment has been met and about $1.5 million remains in the fund pending acceptance.
Chair Slifka presented the MOA Trust update, reporting the trust's value was $487,000,000 as of Nov. 30 and that year-to-date returns through September were 12.58% compared with a benchmark of 12.49%. Slifka told the committee the trust paid a total dividend of $16,577,000 to the municipality and projected the dividend for next year could be slightly more than $17,000,000.
Slifka also said the trust has hired Callan as a consultant beginning Jan. 1 and that the board is…
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